Eni and QatarEnergy have been awarded Libya’s offshore exploration License O1 under the National Oil Corporation’s 2025 bid round, expanding their upstream footprint in the country. The 29,000 square kilometer block lies in the offshore Sirte Basin and is considered highly prospective, with undeveloped discoveries and limited seismic coverage. Eni will operate the license with a 60 percent stake, while QatarEnergy holds 40 percent. The five-year exploration phase will include seismic surveys followed by drilling, with the concession agreement expected to be signed in Tripoli before the end of February.